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Modest Growth Forecast for Aeroderivative Gas Turbine Maintenance Market

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: 12 March, 2010  (Company News)
Industrial Gas Turbine Global Maintenance market report published by AeroStrategy indicates growth expectations with General Electric and Rolls Royce taking the largest market share
A recently completed study by AeroStrategy, The Industrial Gas Turbine Global Maintenance Market, estimates the 2009 aeroderivative market as $3bn and growing. Aeroderivatives includes popular aeroengines, such as the CF6 and Trent, which are modified to work in industries such as power generation, oil and gas, and marine. This segment is a subset of the larger Industrial Gas Turbine (IGT) market, which the AeroStrategy study sized globally as approximately $18bn for 2009.

The analysis for this research is underpinned by a global survey of various turbine operators conducted by AeroStrategy and Gas Turbine World magazine. Key findings include:

* 2009 aeroderivative maintenance is estimated at $3.0bn, growing to $3.7bn by 2018
* General Electric and Rolls Royce account for the largest share of total spend at 39% and 34%, respectively
* North America and Western Europe account for 60% of total spend; China and Russia are considerably smaller, yet show double-digit growth over the forecast period
* The OEM average market share in the aftermarket is approximately 57%; this is considerably higher for newer generation turbines
* The survey indicates that the use of non-OEM parts and Independent Service Providers is increasing

Dr Bill Day, founder of the Gas Turbine Association, and the organization’s current managing director, commented, “The AeroStrategy industrial gas turbine maintenance study fills a much-needed void in the market place. These results should greatly facilitate planning and business decision-making for companies in the powergen, mechanical drive and marine industries.”

AeroStrategy is a management consulting firm that specializes in strategy and market analysis for aerospace and power generation industries. The firm has offices in North America, Europe and Asia.
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